I don’t think the limit and the style lines up.
If you put £10k on a traditional credit card the minimum payment is 2.5% (I checked my Lloyds card), but the longest you can pay Flex back over is 24 months, which is just over 4%
£10k with Lloyds = £250 per month
£10k with Flex = £416.67 per month plus interest
I wouldn’t bet against a 36/48 period coming next.
What interest rate have you used there? Or is that before interest is added?
I just can’t quite understand how I’ve seen monthly repayments over £300 for a third of the maximum now being allowed. But I have seen it, so it exists!
I didn’t add interest to either figure. For Flex I did £10k/24 months = £416
Someone smarter than me will be along to add the interest, I’m not 100% sure how it’s calculated.
It must be done some way to increase the monthly payments a lot though.
In my case, £3,400 over 24 months in total is pre-interest £141 but the monthly repayments are at £310 (appreciate they do go down over time but not a vast amount).
Which is why I don’t think it’s beyond the realms of possibility to be approaching £1,000 monthly payments for a £10,000 limit.
I’m definitely not smart enough to work things like this out.
I like to think of you’ve to the ability to be accepted for a 10000 Flex limit, you’ve got the ability to go elsewhere for a better deal.
I can’t figure out how that would only be £100 a month more…
BUT I trust the magic.
I can’t access that at work, what if you put in £3,400 at 24%? Does that marry up with what I’m seeing over 24 months?
No not quite…
More maths, I’ve ended up with this over a few posts now, let me try and put it together…
I’ve used the Flex calculator above and this one from Barclays. and paying back the minimum with Barclays and setting Flex to the longest currently available, 24 months.
You pays your money, you make your choice!
The difference will be that on Flex the minimum payment is currently the greater of 1. a 24 month term rounded up to the nearest whole number or 2. £2 per month.
So (with no interest for simplicity) if you have one transaction which is £100 and another which is £10 - you’re monthly payment amount will be:
This is £7 which is 7% of your total balance (£110).
This is something we’re working on 
Then it’s not quite as accurate as it seems.
I’ll try ask for a screenshot, because it’s absolutely not £176 a month I can assure you.
Just making sure nothing personal on it; I don’t think there is.
So while the amounts do go down each month I can’t imagine using nearly £6k more would only be £100 more a month.
There was an image here but it felt weird given its not mine, even if nothing personal was showing. Anyway it showed a £307 monthly repayment if you’re nosy like that.
Here’s a cute animal to soften the blow:
Granted I don’t use Flex, and part of it is the repayments are clear but not clear at the same time (as in; I know how much I’m paying each month but it’s not the easiest to figure out how much you’ll be paying overall prior to adding a purchase, much like right now!)
It can’t be set to a year because even if this is the first payment, £307 * 12 = £3684, not £4159.
Well there will probably be things that are less than 24 months in that they wouldn’t spread over 24 months but I don’t know what transactions are on there, just that it’s set to 24 months default.
Chase - here’s a £10k limit with 0%
Monzo - here’s a £10k limit with 3 months 0%
Almost like they were waiting to see what Chase were releasing.
Banks never do this. How dare you suggest they do.
How. Very. Dare. You.
And in 18 months, it’ll be 20%+ with Chase and still zero with Monzo.
If I borrowed everything all of the available balance on my credit cards the minimum payment would be more than my take home pay.
Not saying that this makes it better but Monzo have a long, long way to go before they become anything like the credit card companies!
I don’t actually mind the upper limit, it really just depends who they’ll actually lend it to. A 2k limit offered to someone on minimum wage is much worse than 10k offered to someone on 100k
I guess I’m thinking just on one product.
Anyway I still think the payment style of Flex doesn’t suit larger limits like this.
Absolutely no chance it’s related to anything Chase have just done.
Theo asking about the sign up flow is just being good at your job.
I got the offer for £10k and grabbed it, flex is a very good product and I get a decent enough interest rate compared to the market rates if I ever wanted to stretch a payment.
Didnt you just insta sign up for a chase credit card with a £8k limit? 
Chase have started on what appears to be a £10k cap and I dont recall much about it being immoral or predatory in that thread. It may be 0% for 18 months right now but the chase interest rate looks to be over 10% higher than my monzo one (not been offered chase yet but then I only used them for the high interest rate until recently and the £15 a month).
I just find it interesting to see the varied response to monzo doing something over chase doing something a few days earlier although I may have missed your posts about chase as that thread moved a bit fast at times (hate mega threads)
I would highly doubt someone 2 days ago went and just hit a button without having done a lot of prepp and checks/maths (for their own liquidity) in the background weeks beforehand.
